Mortgage Information
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Your first step in purchasing a new home is a meeting with a great lender. Interest rates change almost daily, and closing costs can vary greatly between lenders. There are also many different loan options to consider including no-money down, UtahHousing, VA, FHA, and conventional loans. Your lender will review your personal financial situation and determine which program is best for you. If you are a first time buyer in Davis County, and you meet the requirements, you may be able to receive a $5,000 First Time Buyer Grant. Some cities will also offer grants to first time buyers if you purchase a home in that particular city. Grant programs change over time, so please call or e-mail me for the current status of these grant programs. |
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Use the mortgage calculators below to assist you in making some decisions around financing your new home.
Mortgage Qualification Calculator
This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables.
Mortgage Payment Calculator & Amortization Table
This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.
For more information on loan options please contact one of my preferred lenders:
Debbie Andersen, CML
SWBC Mortgage Corporation
130 N. Main Street
Bountiful UT 84010
Office: (801) 294-4663
E-Mail: dandersen@swbc.com
NMLS ID: 234175
or
Jeff Flitton
Axiom Financial
801 North 500 West, Suite 100
Bountiful, UT 84010
Direct: (801) 949-2271
E-mail: jeff@axiomfinancial.com
NMLS ID # 268048
or
Matt Nielson
US Bank
849 W Hill Field Road
Layton, UT 84041
Direct: (801) 347-6585
E-mail: matthew.nielson@usbank.com
Items Typically Required to Apply for a Home Loan:
- Complete tax returns for the past two years, including all pages and schedules. If self employed, they will also need a copy of the business tax returns with all schedules.
- Two year history of addresses where you have lived
- Driver's License and original social security card
- W-2's for the past two years
- Most recent bank statements showing all pages. You can print a statement on-line if the printout shows your name, banking institution and dates. The lender will most likely ask for a letter of explanation for any irregular deposits.
- Divorce decrees signed by the judge if applicable.
- Paystubs covering the most recent 60 days and with year to date earnings.
- Existing mortgage payment statement if applicable.
- Most recent retirement account statements which name your name, institution name and dates.
- Most recent statements for any other assets, covering the past 2 months
- Copy of the declaration page of homeowner's insurance along with a paid receipt. You can only provide this once you have identified a property to purchase. Your insurance agent can usually send this to the lender on your behalf.
- A copy of the fully executed sales contract. I will provide this to the lender on your behalf.
- If applicable, complete bankruptcy petition and discharge of debtors paperwork.